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Politics : The Citizens Manifesto -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (108)	6/15/2005 2:06:33 PM
From: TigerPaw	Read Replies (1) \| Respond to of 492

Take a look at company pension plans across the U.S. All of the ones with defined benefit plans are facing big issues and many are facing existential problems as a result. That is a result of policy and not because defined benefit plans are inherently unstable. In the 1980s the claimed problem with pension plans was that they were overfunded. In effect they were systematicly looted at that time. The currently social security system is only unstable if the administration defaults on the treasury bonds that fund the system. Perhaps there is some merit to the idea that access to the those bonds or collected funds should be removed from congressional authority and placed with another type of entity (the exact nature of which I don't know), but to remove any defined benefit retirement for an enforced savings plan would only serve to drive up the cost (and lower the value) of investment vehicles with the elderly again left without a safety net. TP